The Power of "Thank You" in Business Relationships

"Thank you" is one of the most important phrases you can use in business-it shows respect, appreciation, and makes others more likely to help you in the future.

Especially if the person who helped you is already wealthy, a heartfelt show of thanks can often mean just as much to them as financial compensation. I recommend sending a personal thank you letter after the close of a large deal, or if someone helped you get a significant promotion, new account, or new job elsewhere.

Don't send the thank you immediately-wait a week or two after the deal closes, so that it is something of a surprise when the person receives it. Although a personal email expressing your thanks is okay in small situations, I don't think it is substantial enough for large favors. If someone really helped you, send a printed card-not an e-card or email. (A card can be placed on the person's desk and enjoyed for several weeks or more. An email is read once and then deleted or archived forever.)

Your card should be congenial, but not overly "corny"-especially if the person is your professor, superior, or boss, don't send a silly cartoon thank you card. Send something serious and regal looking. Inside, write a brief note expressing your thanks-use blue or black ink. Sign it, seal the envelope, and send to them in the mail. People, no matter how important or celebrated, enjoy receiving physical mail-it is always a surprise to get a real letter in this age of emails and faxes.

If you feel it is appropriate, you can also send flowers. I recommend 1-800-Flowers or Teleflora.com-I have used both.

I think in most situations a simple thank you card is sufficient. If the person you are thanking is an employee, and you wish to thank them for doing a great job on a project, instead of flowers you can enclose a gift certificate with your thank you card. A gift certificate to Starbucks or to Best Buy will be well-received. Sending "cash" may be seen as a bit too crass or impersonal, so stick to a gift card of some sort. You want it to be perceived as an unexpected gift for great performance, not a regular or planned performance bonus.

Irregular and unexpected gifts to employees or business partners are a great way to boost company morale-it is an event the person will remember for many months, and it will also send the message to other employees that you are actively looking for great results, and that you provide proper recognition when you come across someone who is doing above average work for your company or organization.